With
a
huge
sell-off
of
Bitcoin,
the
Germany
has
fundamentally
changed
the
bitcoin
scene.

Germany
has
recently
offloaded
an
astounding
49,850
BTC
within
a
few
weeks.
Executed
across
many
exchanges
including
Coinbase,
Kraken,
and
Bitstamp,
the
transactions
helped
to
reduce
possible
value
loss.

Related
Reading

Apparently,
the
German
government
started
these
sales
because
of
worries
about
a
notable
drop
in
the
value
of
Bitcoin.
With
the
average
price
for
a
Bitcoin
about
$57,000,
the
total
earnings
came
to
a
little
over
$2.8
billion.

 

Fascinatingly,
Germany
lost
out
on
an
extra
$400
million
in
possible
gains
while
Bitcoin
is
presently
valued
at
$66,425.
Germany
now
only
holds
less
than
one
BTC.

Strategic
Bitcoin
Moves
By
The
US
Government?

The
US
government
has
been
making
news
with
its
own
smart
BTC
moves
as
the
dust
settles
following
Germany’s
huge
Bitcoin
sell-off.

Blockchain
intelligence
platform

Arkham
Intelligence
found
on
July
22,
2024
a
noteworthy
transaction
involving
the
movement
of
58.742
BTC
from
a
government
wallet
to
Coinbase
Prime
Deposit.
Valued
at
about
$4
million,
this
move
has
generated
interest
and
worries
among
the
crypto
community.

The
US’
possession
of
around
213,200
BTC,
with
a
valuation
of
approximately
$14.4
billion,
consists
mostly
of
assets
confiscated
from
criminal
entities.
The
seizure
of
69,370
BTC
from
the
notorious
Silk
Road
case
in
August
2023
was
the
most
publicized
of
these
seizures.

 

Adding
to
the
intrigue
is
this
most
recent
move,
which
comes
after
a
previous
transaction
that
took
place
on
June
26
and
saw
the
US
government
transferring
4,000
Bitcoin
to
the
same
Coinbase
wallet.

Some
people
are
concerned
that
the
United
States
may
follow
Germany’s
example
and
begin
a
large
sell-off
as
a
result
of
these
developments.

Germany
&
US
Bitcoin
Moves:
Market
Effects

Investors
and
market
experts
have
not
missed
the
significant
changes
governments
have
made
on
Bitcoin.
Already,
Germany’s
sell-off
illustrated
the
significant
influence
such
policies
may
have
on
investor
confidence
and
market
stability.
The
worry
of
a
comparable
US
government
action
has
added
even
another
level
of
uncertainty
to
the
market.

Related
Reading

Bitcoin’s
price
has
been
going
up
and
down
a
lot,
so
the
market
mood
has
been
tight.

Bitcoin
is
currently
selling
at
$66,420,
which
shows
how
the
market
feels
about
these
government
actions.
It
has
lost
more
than
2%
in
the
last
24
hours.

 

These
changes
are
causing
reevaluation
of
investor
tactics.
Although
some
view
the
government
sell-offs
as
a
sign
of
caution,
others
view
them
as
possibilities
for
market
corrections.
The
state
of
cryptocurrencies
is
still
much
shaped
by
the
behavior
of
big
BTC
holders,
especially
governments.

Featured
image
from
Pexels,
chart
from
TradingView

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Author: Christian Encila

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